eqtventures

Aifloo raises €5.1 million; accelerates development of AI-based e-health system

Henrik Landgren

Aifloo is a Swedish-based company that develops e-health systems based on medical artificial intelligence (AI). Combining sensor architecture with AI, Aifloo’s smart wristband understands and analyses behavioural patterns and sends an alert to nursing staff or relatives in the event of deviations. These could include trips or falls, alterations in eating habits and changes in sleep behaviour. Today, Aifloo announces the completion of its latest funding round of €5.1 million. The A round was secured from the EQT Ventures fund (“EQT Ventures”) and will enable Aifloo to advance its AI technology that enables elderly members of society to live more independently.

The company was founded in 2015 by Felix Etzler, Michael Collaros and Anders Widgren to create an e-health system that continually learns an individual’s behaviour and is optimised to their needs and conditions, this to provide people with the support they need.

“When we set out to create Aifloo, we wanted to improve the quality of life for the elderly and provide peace of mind for relatives and caregivers”. Said Michael Collaros, CEO and co-founder of Aifloo. “Using cutting-edge AI, we’ve developed a system that learns and analyses human behaviours in order to increase people’s safety and help caregivers provide support where it’s needed most. With the wealth of data available, our service is set to continually improve and evolve. EQT Ventures is the ideal partner to support our growth thanks to the team’s in-depth knowledge of AI, scaling businesses and the entrepreneurial journey. With this investment and support, we’re looking forward to growing the team and developing our product further.”

Henrik Landgren, Analytics Partner at the EQT Ventures team and Investment Advisor to the fund, who will be joining Aifloo’s Board, said: “EQT Ventures was incredibly impressed by Aifloo’s stellar team and the innovative product that has been developed. By combining vast amounts of data and modern AI technology, Aifloo’s service is having a big impact on people’s lives. As well as having a long history in the IoT and healthcare space, Felix, Michael and Anders truly care about the overall customer experience. We’re looking forward to supporting the company on the next stage of its journey.”